The Nigerian National Petroleum Company (NNPC) Limited has increased petrol prices to N835 per litre in Lagos and N839 per litre in Abuja, effective immediately. This price adjustment was observed across retail outlets in both cities.
The move comes after President Bola Tinubu approved a 15% import duty on petrol and diesel, which may further impact fuel prices.
The NNPC had previously reduced petrol prices to N740 per litre in Lagos, matching Dangote Refinery’s rate, but has now reversed the trend.
The price hike is likely to exacerbate Nigeria’s economic challenges, with inflation already at 33.4% and many citizens struggling with high living costs.
